The companies are still finalizing the arrangements, the FT report said, adding that no contracts have been signed so far.
TikTok and TalkShopLive didn't respond immediately to Reuters' requests for comment.
TikTok's live shopping platform TikTok Shop is available in Asian markets, including Thailand, Malaysia and Vietnam. According to the report, it was launched in the U.K. last year.
TalkShopLive signed an agreement with U.S. retailer Walmart last year to provide shoppable content through embeddable videos across Walmart.com.
The Chinese-owned app's safeguards of user data have been questioned by U.S. lawmakers, who consider TikTok to be its largest market.